CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 11 February 2010
Dear Ramanju,
As such there is no such restriction, if your company comes under automatic route you have to only send a report to RBI through Authorised Dealer Category I Bank in form FCGPR with in 30 days of allotment. Further, a report is also required to be send to RBI within 30 days of receipt of amount being the foreing inward remittance.
Otherwise you have to obtain a approval from the Central Government through FIPB. And then you can allot shares to them.
Please refer Foreign Exchange Management (Transfer or issue of securities by a person resident outside India) Regulations, 2000.
And RBI Master Circular foreign Investment In India.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 23 February 2010
here is the info.....
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
CAclubindia
